Nigeria records second lowest investment inflow in 10 years

Nigeria attracted a total investment inflow of $908.27 million in the first quarter of 2017, according to the latest Capital Importation Report released by the National Bureau of Statistics.

It is the country’s second lowest investment inflow in 10 years.

“The total value of capital imported into Nigeria in the first quarter of 2017 was estimated to be $908.27m.

“Although this was an increase of 27.75 per cent relative to the same quarter of 2016, it was nevertheless 41.36 per cent smaller than the value of capital imported in the previous quarter, and was the second lowest value recorded since 2007,” the report read.

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It added: “There was a high-profile sale of (bonds denoted in a non-local currency) during the quarter, but this has not yet appeared in the data; there is a lag between subscription and actual payment, and, therefore, it is possible that this will show up next quarter.

“Capital importation was particularly low in January, at $187.9m; this was only the fourth month since 2007 in which capital importation was less than $200m.”

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